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Ventas, Inc.
S&P 500
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$42.3B
Market Cap
143.3
P/E
PEG
3.3%
ROCE
2.2%
ROE
1.02
D/E
13.4%
OPM
-6.7%
% from 52W High
73
α RS
🔍 VTR is showing a sector-leadership setup because Sector RRG has Health Care in the Leading quadrant with the trail still strengthening, RS Rating is 73, and an ECS of 73.3 last quarter. Net: Broad signal stack, not a recommendation. ? RRG RS Rating ECS
Sources
Health Care in Leading quadrant · RS Rating 73 · ECS 73.3
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🌏 Global Investor Returns
Currency-adjusted total returns for VTR including FX impact
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📈 Price History
Ratio Health
Excellent
Good
Average
Poor
By Category
📊 Sector Averages
About

Ventas, Inc. is an S&P 500 company enabling exceptional environments that benefit a large and growing aging population.

Key Ratios Snapshot
📈 Growth Pattern
📊 Quick Scorecard
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⭐ Superinvestors Holding VTR
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Manager Shares Value % of Fund Period
Jim Simons Renaissance Technologies LLC 810.6K $66.3M 0.10% Mar 2026
Steve Cohen Point72 Asset Management 119.4K $9.8M 0.01% Mar 2026

SEC Form 13F data. 45-day lag from quarter end.

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Good quarter Investor Presentation One-Pager? Q2 2026
SHOP Same-Store NOI Growth
16%
+16% YoY
U.S. SHOP Same-Store NOI Growth
18%
+18% YoY
Normalized FFO per Share
$0.97
+9% YoY
Same-Store Cash NOI Margin
31%
+210 bps YoY
Net Debt / EBITDA
4.7x
-90 bps YoY
What Went Right
  • SHOP same-store NOI grew 16% YoY, led by U.S. SHOP up 18% with 360 bps occupancy growth.
  • Investment engine accelerated: $3.4B closed YTD, full-year target raised from $3B to $4.5B.
  • Leverage improved to 4.7x net debt/EBITDA, the best in over a decade, with $4.9B liquidity.
What to Watch
  • Key selling season is still in progress; full-year SHOP NOI guide was held at 16% despite strong H1.
  • Higher interest rates, stronger dollar and higher share price are a $0.01 per share drag to 2026 guidance.
  • Research portfolio occupancy had chunky move-outs, with a $900K year-over-year impact expected to persist through the year.
Management Guidance
  • Full-year 2026 normalized FFO per share raised to $3.85-$3.90 (midpoint $3.88), implying 8%-10% growth.
  • Full-year 2026 Nareit FFO per share raised to $3.76-$3.81 (midpoint $3.79).
  • 2026 investment volume expectations increased to $4.5B; dispositions and loan repayments expected to total ~$700M.
Investor Lens
The thesis is stronger after this call. SHOP is compounding at 16-18% same-store NOI growth, the external growth engine is scaling with a raised $4.5B investment target, and leverage has improved to 4.7x. The demographic demand/supply imbalance supports a multi-year runway. The main watch item is execution through the rest of the selling season and back-half guidance conservatism.
From investor presentation · AI-generated analysis · Not investment advice
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📈 STRONG Strong quarter: 16% SHOP NOI growth, raised guidance, and accelerating investments.
Revenue
Total company same-store cash NOI rose 10% YoY. SHOP same-store cash operating revenue grew 9% YoY, driven by 300 bps average occupancy growth and 5% RevPOR growth; U.S. SHOP NOI grew 18%.
Profitability
Normalized FFO per share came in at $0.97, up 9% YoY. Attributable net income was $0.14 per share versus $0.15 in the prior year.
Margins
SHOP same-store NOI margin expanded 210 bps YoY to 31%. Incremental margin flow-through reached 55%, while same-store operating expenses grew only 5%, showing strong operating leverage.
Balance Sheet
Net debt to further adjusted EBITDA improved to 4.7x, a 90 bps YoY improvement and a 30 bps sequential improvement. Liquidity stood at $4.9B, with $1.6B of unsettled equity forward sales agreements.
Key Risks
Management flagged that the key selling season is not over and full-year SHOP NOI growth is still dependent on second-half execution. Higher interest rates, FX and a stronger share price are partial offsets to guidance, and the research portfolio experienced a chunky occupancy loss with a $900K impact.
Outlook
Full-year 2026 normalized FFO per share guidance was raised to $3.85-$3.90, reflecting 8%-10% growth. The company also increased its 2026 senior housing investment target to $4.5B, up from $3B.
Generated by AI · Q2 2026 results · Not investment advice
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✓ 📞 Earnings Call Transcripts (5 quarters) submit a missing quarter
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📞 Earnings Call Transcripts (5)
Q2 2026 Q2 2026 2026-07-30
Q2 2026 saw robust growth, with 10% same-property NOI and 18% SHOP NOI increases year-over-year. Full-year normalized FFO guidance was raised to $3.85–$3.90 per share, and SHOP is set to comprise 60% of the enterprise by year-end, reflecting strong investment momentum and demographic tailwinds.
Q1 2026 Q1 2026 2026-04-28
Q1 2026 saw double-digit growth in senior housing, with SHOP NOI up 15%+ and occupancy gains driving a raised full-year outlook. Over $1.7B in acquisitions closed YTD, liquidity at record levels, and investment guidance increased to $3B, supported by strong demand and limited new supply.
Q4 2025 Q4 2025 2026-02-06
Strong 2025 results included 9% FFO per share growth, 15% SHOP NOI growth, and a 35% total shareholder return. 2026 guidance calls for 8% FFO growth, nearly 10% same-store NOI growth, and $2.5B in senior housing investments, with continued margin expansion and robust demand from aging demographics.
Q3 2025 Q3 2025 2025-10-30
Q3 2025 saw double-digit growth in senior housing NOI and FFO per share, with SHOP now half of NOI and $2.2B in acquisitions YTD. Guidance was raised for FFO and NOI growth, and leverage improved to 5.3x, supported by strong demand and limited new supply.
Q2 2025 Q2 2025 2025-07-31
Q2 2025 saw strong earnings growth, with normalized FFO per share up 9% year-over-year and robust SHOP performance driving a raised full-year FFO guidance midpoint to $3.44. Senior housing investments and liquidity reached record levels, while portfolio optimization and favorable market trends support continued growth.
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Financial Model
Projections are built from each company's audited annual financials (Income Statement, Balance Sheet, Cash Flow) over the last 5 fiscal years. Forward assumptions — revenue growth %, EBITDA margin, D&A (USD millions), interest expense, tax rate, and capex — are AI-generated using historical context and refreshed twice a year: after the December results season and after the September/Q4 results season.

DCF Valuation
Fair Value = Σ(FCFt / (1+WACC)t) + Terminal Value. Terminal Value uses the Gordon Growth Model: FCF5 × (1+g) / (WACC−g). Default WACC: 10% (US risk-free ~4.5%, equity risk premium ~5.5%). Default terminal growth: 3% (long-run US nominal GDP proxy).

CAGR Tracker
Expected 5-year CAGR = (DCF Fair Value / Current Price)1/5 − 1. Assumes fair value is reached in exactly 5 years — a mechanical estimate only.

Data Sources & Limitations
Financial statements sourced from public filings. Prices updated daily. Forward assumptions are AI-generated. All monetary values in USD millions. Non-US ADR companies may have currency conversion inaccuracies. Models are point-in-time and do not update intra-quarter or account for M&A, macro shocks, or extraordinary items.

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Investment Risk:
Investing in securities, including US equities and ETFs, involves inherent risks including the potential loss of principal. All investments are subject to market fluctuations, economic conditions, regulatory changes, and other factors that may affect their value. Past performance is not indicative of future results. This analysis is provided for informational and educational purposes only and should not be construed as investment advice under any circumstances.

No Investment Recommendation:
This analysis does not constitute, nor should it be interpreted as, an offer, solicitation, or recommendation to buy, sell, or hold any securities or financial products. Investors are strongly advised to conduct their own independent research and due diligence and to consult with a licensed financial advisor or an SEC-registered investment adviser before making any investment decisions, taking into account their individual financial situation, risk tolerance, and investment objectives.

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Information Sources:
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